Brown Gibbons Lang | Real Estate Partners recently brokered the sale of the 41,000 square foot Riverbend Medical Center in Rome, Ga. (Photo courtesy of BGLREP)
Brown Gibbons Lang | Real Estate Partners (“BGLREP”), a division of Brown Gibbons Lang & Company (“BGL”), is pleased to announce the sale of Riverbend Medical Center, located in Rome, GA. BGLREP’s National Healthcare Real Estate team served as the exclusive advisors to the seller in the transaction.
Riverbend Medical Center (the “Property”) consists of 41,000 square feet and is located in a regional medical hub of healthcare providers serving northwest Georgia, approximately 65 miles northwest of Atlanta. Completed in 2008 as a build-to-suit for the anchor tenant, Northwest Georgia Medical Clinic (“NGMC”), the Property is conveniently located in proximity to Floyd Medical Center, a 304-bed acute-care hospital where the physicians of NGMC perform inpatient procedures, newborn deliveries, and maternity care. In addition to NGMC, the 100% leased Property is also occupied by Atlanta Allergy & Asthma, Children’s Dental Center, Quest Diagnostics, and Harbin Clinic.
“There was a tremendous amount of interest in Riverbend Medical Center given that the medical office building is fully stabilized and anchored by Northwest Georgia Medical Clinic, the premier provider of OB/GYN and maternity care in Northwest Georgia”, said Christopher Stai and Clint Parker, Managing Directors of BGLREP’s National Healthcare Real Estate Group. Adding, “The transaction was tailored and structured to achieve each ownership member’s goals.”
“Given the continued strong market conditions for investment in healthcare real estate assets that are supported by best-in-class healthcare providers, the results that we are able to deliver for our clients through a discreet and controlled marketing process is remarkable.” said Andrew Larwood and Allen Inman, Directors of BGLREP’s National Healthcare Real Estate Group.
BGLREP completed 20 healthcare real estate sale transactions over the past 12 months for a total value of approximately $360 million, adding to a total value of nearly $650 million in 37 separate healthcare real estate sale transactions over the past two years. BGLREP’s National Healthcare Practice specializes in representing and advising owners of healthcare real estate through a variety of transaction structures, including tax-deferred transactions, such as an UPREIT or a §1031 like-kind exchange, as well as an outright sale or equity recapitalization that enables owners to capitalize on current investment demand and historically high valuations while retaining a reduced level of real estate ownership.
About Brown Gibbons Lang | Real Estate Partners
BROWN GIBBONS LANG | Real Estate Partners (BGLREP), a division of Brown Gibbons Lang & Company, is a leading national advisor in healthcare real estate, specializing in providing healthcare real estate owners with tailored transaction strategies, including debt and equity recapitalization, sale-leasebacks, partial sale-leasebacks, tax deferred transactions, such as an UPREIT or a §1031 like-kind exchange, and other nuanced transactions designed to optimize value and flexibility for the client.
About Brown Gibbons Lang & Company
Brown Gibbons Lang & Company is a leading independent investment bank serving the middle market. BGL specializes in mergers and acquisitions advisory services, debt and equity placements, financial restructuring advice, and valuations and fairness opinions, with global industry teams in Business Services, Consumer, Environmental & Industrial Services, Healthcare & Life Sciences, Industrials, and Real Estate. BGL has offices in Chicago, Cleveland, Irvine, Philadelphia, and San Antonio, in addition to Global M&A partner offices in more than 50 countries across 5 continents. BGL is able to deliver to our clients
unparalleled access to strategic relationships, investors, and opportunities globally. For more information, please visit www.bglco.com.
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